With this Buy-Sell Agreement Package, you will find the forms that are necessary for a future sale of a partner’s or shareholder's interest. In a buy-sell agreement, the party contractually limits his or her ability to dispose of his or her interest in the partnership or corporation to the terms of the agreement, and control of the partnership or corporation may be assured.
Included in your package are the following forms:
- Buy-Sell Agreement Between Shareholders of Corp
- Buy-Sell Agreement Between Partners of Partnership
- Non-Compete Agreement Between Buyer and Seller
- Buy-Sell or Stock Purchase Agreement Covering Common Stock in a Closely Held Corporation with an Option to Fund the Purchase Through Life Insurance
- Buy-Sell Clauses and Related Material
Detailed information on forms included:
- Buy-Sell Agreement Between Shareholders of Corp. - The purpose of this agreement is to provide for the sale by a stockholder during his/her lifetime, or by a deceased stockholder's estate, and to provide all or a substantial part of the funds for the purchase. The form contains the following provisions: total value of the capital stock, procedure upon the death of a stockholder, and amending procedures for the agreement.
- Buy-Sell Agreement Between Partners of Partnership - This form is an agreement in which the partners are engaged in a particular business and the purpose of this agreement is to provide for the sale by a partner during a partner's lifetime, or by a deceased partner's estate, of his interest in the partnership, and for the purchase of such interest by the partnership at a price fairly established, and to provide all or a substantial part of the funds for the purchase.
- Non-Compete Agreement Between Buyer and Seller- In this form, the seller and purchaser agree not to compete with each other in the specified industry and territory for a certain time period. The form is designed to be adapted to fit your particular needs.
- Buy-Sell Clauses and Related Material - This form is a model adaptable for use in partnership matters, based on an example clause used by a 50-50 general partnership or limited liability company joint venture. Buy-sell device includes an auction procedure. Adapt the form to your specific needs and fill in the information.
- Buy-Sell or Stock Purchase Agreement Covering Common Stock in a Closely Held Corporation with an Option to Fund the Purchase Through Life Insurance- This form is set up as a Buy Sell Agreement between the Corporation and a key shareholder. It applies in the case of the death, disability, retirement or offer of shareholder to sell the stock during his lifetime.
A Lakeland Florida Buy Sell Agreement Package is a legally binding document used in the state of Florida to outline the terms and conditions for the purchase and sale of a business or its assets. This agreement protects the interests of both the buyer and the seller and ensures a smooth and fair transaction. The Lakeland Florida Buy Sell Agreement Package typically includes the following key components: 1. Agreement Terms: This section outlines the basic terms and conditions of the agreement, including the names of the buyer and the seller, the purchase price, payment terms, and any contingencies or conditions that need to be met before the sale can be finalized. 2. Asset Description: This part of the agreement provides a detailed description of the assets being bought or sold. It may include tangible assets such as equipment, real estate, inventory, and intellectual property rights like patents or trademarks. 3. Purchase Price Allocation: The agreement also specifies how the purchase price will be allocated among the various assets being sold. This is important for tax purposes and to determine the value of each asset for accounting and depreciation purposes. 4. Representations and Warranties: Both the buyer and the seller provide certain warranties and representations regarding the business and its assets. These statements ensure that all information provided is accurate and complete and that there are no undisclosed liabilities or problems. 5. Covenants and Conditions: This section outlines any obligations or conditions that the buyer and seller need to fulfill before or after the sale. It may include non-compete clauses, confidentiality agreements, or requirements for obtaining necessary licenses or consents. 6. Dispute Resolution: The agreement will typically include a provision for resolving any disputes that may arise during the transaction. This may include mediation, arbitration, or litigation, depending on the preferences of the parties involved. Types of Lakeland Florida Buy Sell Agreement Packages: 1. Stock Purchase Agreement: This type of agreement is used when the buyer is acquiring the entire business or majority ownership by purchasing the shares of stock from the existing shareholders. 2. Asset Purchase Agreement: In this case, the buyer acquires specific assets of the business, such as equipment, inventory, or real estate, rather than purchasing the entire company. 3. Membership Interest Purchase Agreement: This agreement is used when the entity being bought or sold is a limited liability company (LLC). The buyer acquires the membership interests (similar to stock) in the LLC. It is important to consult with a qualified attorney experienced in business transactions and contract law to draft or review a Lakeland Florida Buy Sell Agreement Package to ensure that it meets the specific needs of the buyer and seller and complies with the applicable laws and regulations.
